Key facts
- Google Cloud revenue more than doubled to $30.71 billion in Q3.
- Enterprise spending on AI infrastructure and GenAI tools drove growth.
- Alphabet is the third-largest cloud services provider globally.
Alphabet's Google Cloud unit surpassed third-quarter revenue expectations, driven by sustained enterprise spending on AI infrastructure and expanding adoption of its GenAI tools. Revenue at Google Cloud more than doubled to $30.71 billion in the third quarter ended September, compared with analysts' average estimate of a 95.1% increase to $29.57 billion. The company's cloud services, behind Amazon Web Services and Microsoft's Azure, have benefited from multi-year cloud and AI infrastructure deals across various sectors. Alphabet's investments in custom tensor processing units and third-party GPUs have helped expand its service delivery capabilities amid industry-wide supply bottlenecks for advanced silicon and data-center power.